Hasn't your teacher gone over these things with your class?
I'm not sure what your exam would be like, but ours tend to be based on the HSC papers...so all I can tell you is based on that.
Part 1:
Three Questions.
They give you pictures and info and ask you write about them and the likes. The best thing to study for these are just the Frames and what they're all about.
Part 2:
Is the biggie...its a bunch of questions and you choose one and write about an artist/artists in relation to the question. The easiest way to study for this is to just write case studies on artists and memorise as much of the info about them as possible.
Note: Make sure to have some artworks to use as examples and to discuss in depth (they love that crap...shows that you know what you're on about).
I hope this helped...its pretty basic but should point you in the right way.
No problem, glad to help...I'd try and find some sample exams to show you but our teachers tend to not let us keep them.
I'm sure there's some on the HSC sites though, there should be model responces as well.